China's aluminum consolidation drive may benefit Chalco
Jan 29, 2013 | 11:18 AM
SHANGHAI The drive for industry consolidation and restructuring by Chinas leadership is expected to benefit big companies, such as Aluminum Corp. of China Ltd. (Chalco), according to market participants.
On Jan. 22, the countrys Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission (NDRC) and 10 other ministries set out guidelines for the future structure of nine industries, including aluminum, rare earths and steel.
According to the guidelines, China aims to have a few aluminum business conglomerates with "core competitiveness and international influence" by 2015, and have the top 10 smelters accounting for 90 percent of the countrys total production capacity.....
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